City's summer spending shows no sign of slowing down as Sheikh Mansour rakes in over £2billion from sale of Barclays stake
By Adam Crafton
PUBLISHED: 14:44 GMT, 19 July 2013 | UPDATED: 14:50 GMT, 19 July 2013
With Manchester City's summer spending approaching the £100million mark after sealing the signings of striking duo Alvaro Negredo and Stevan Jovetic this week, rival fans may have hoped to have seen the end of City's exploits in the transfer market.
But in news to strike fear into title challengers Manchester United and Chelsea, City's megabucks owner Sheikh Mansour has just become even richer - after selling his 7% stake in Barclays at an astonishing 60% premium on the £3.5billion that he invested into the company in 2008.
With Barclays' shares rocketing by 60% in the last five years, the figures suggest that the City owner may have raked in an extraordinary £2.1billion in profit from the sale.
Rich get richer: Manchester City owner Sheikh Mansour has sold his stake in Barclays
Last year, Mansour's incredible financial muscle was underlined by his number one ranking in the Four Four Two Football Rich List, with his wealth estimated at £20billion while the Sheikh's assets are thought to be worth close to £400billion.
Since taking over at City in 2008, he has spent over £1billion in his bid to catapult the Manchester club towards the top table of world football, with the Premier League title in 2012 the most tangible reward for his outlay so far.
City's spending in the transfer market has been more restricted in the last twelve months, as the club seek to comply with UEFA's Financial Fair Play regulations.
Summer spending: Fernandinho (left) and Alvaro Negredo (right) are two of Manchester City's newest recruits
Nonetheless, a disappointing campaign last season has seen City reemerge as English football's biggest spenders, with Jesus Navas, Fernandinho, Stevan Jovetic and Alvaro Negredo all joining new manager Manuel Pellegrini as the club's summer rebuilding project gathers pace.
Sportsmail understands that Pellegrini - who replaced Mancini at the end of last season following a meek defence of the Premier League title and defeat in the FA Cup Final - would like to add a centre-half of the highest quality to his ranks ahead of the new season, with a £20million move for Real Madrid defender Pepe currently under consideration.
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By Adam Crafton
PUBLISHED: 14:44 GMT, 19 July 2013 | UPDATED: 14:50 GMT, 19 July 2013
With Manchester City's summer spending approaching the £100million mark after sealing the signings of striking duo Alvaro Negredo and Stevan Jovetic this week, rival fans may have hoped to have seen the end of City's exploits in the transfer market.
But in news to strike fear into title challengers Manchester United and Chelsea, City's megabucks owner Sheikh Mansour has just become even richer - after selling his 7% stake in Barclays at an astonishing 60% premium on the £3.5billion that he invested into the company in 2008.
With Barclays' shares rocketing by 60% in the last five years, the figures suggest that the City owner may have raked in an extraordinary £2.1billion in profit from the sale.
Rich get richer: Manchester City owner Sheikh Mansour has sold his stake in Barclays
Last year, Mansour's incredible financial muscle was underlined by his number one ranking in the Four Four Two Football Rich List, with his wealth estimated at £20billion while the Sheikh's assets are thought to be worth close to £400billion.
Since taking over at City in 2008, he has spent over £1billion in his bid to catapult the Manchester club towards the top table of world football, with the Premier League title in 2012 the most tangible reward for his outlay so far.
City's spending in the transfer market has been more restricted in the last twelve months, as the club seek to comply with UEFA's Financial Fair Play regulations.
Summer spending: Fernandinho (left) and Alvaro Negredo (right) are two of Manchester City's newest recruits
Nonetheless, a disappointing campaign last season has seen City reemerge as English football's biggest spenders, with Jesus Navas, Fernandinho, Stevan Jovetic and Alvaro Negredo all joining new manager Manuel Pellegrini as the club's summer rebuilding project gathers pace.
Sportsmail understands that Pellegrini - who replaced Mancini at the end of last season following a meek defence of the Premier League title and defeat in the FA Cup Final - would like to add a centre-half of the highest quality to his ranks ahead of the new season, with a £20million move for Real Madrid defender Pepe currently under consideration.
Read more: <a class="postlink" href="http://www.dailymail.co.uk/sport/football/article-2370351/Manchester-City-owner-Sheikh-Mansour-makes-profit-Barclays-stake.html#ixzz2ZWkg2ckA" onclick="window.open(this.href);return false;">http://www.dailymail.co.uk/sport/footba ... z2ZWkg2ckA</a>
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